Good faith—civil obligations (cf Corporations Act s 181)

Current

(1)

Good faith—directors and other officers A director or other officer of a co-operative must exercise their powers and discharge their duties—

(a)

in good faith in the best interests of the co-operative; and

(b)

for a proper purpose.

Note.

This subsection is a civil penalty provision (see section 554).

(2)

A person who is involved in a contravention of subsection (1) contravenes this subsection.Note 1.

This subsection is a civil penalty provision (see section 554).Note 2.

Section 9 defines “involved” in a contravention.

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